AQR Capital Management LLC Sells 179,636 Shares of Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• AQR Capital Management LLC reduced its stake in Qfin Holdings by 7.4%, selling 179,636 shares, leaving them with approximately 2.25 million shares valued at $101.16 million.
• Qfin recently reported a miss on earnings with EPS of $1.78, falling short of the $1.79 consensus estimate, and had a revenue of only $728 million against an expectation of $4.68 billion.
• The company announced an increase in its semi-annual dividend to $0.76 per share, up from $0.70, indicating a high yield of 440.0% based on current stock values.

AQR Capital Management LLC decreased its position in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,252,495 shares of the company's stock after selling 179,636 shares during the period. AQR Capital Management LLC owned approximately 1.43% of Qfin worth $101,160,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. HB Wealth Management LLC lifted its holdings in shares of Qfin by 7.2% in the 1st quarter. HB Wealth Management LLC now owns 6,431 shares of the company's stock valued at $289,000 after acquiring an additional 431 shares during the last quarter. SVB Wealth LLC bought a new position in shares of Qfin in the 1st quarter valued at about $28,000. HighTower Advisors LLC lifted its holdings in shares of Qfin by 5.6% in the 1st quarter. HighTower Advisors LLC now owns 15,484 shares of the company's stock valued at $695,000 after acquiring an additional 823 shares during the last quarter. Nomura Holdings Inc. lifted its holdings in shares of Qfin by 7.3% in the 1st quarter. Nomura Holdings Inc. now owns 13,200 shares of the company's stock valued at $593,000 after acquiring an additional 900 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Qfin by 0.5% in the 4th quarter. Nuveen Asset Management LLC now owns 242,000 shares of the company's stock valued at $9,288,000 after acquiring an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 74.81% of the company's stock.

Qfin Trading Down 0.9%

NASDAQ QFIN traded down $0.25 during trading on Wednesday, hitting $28.13. The stock had a trading volume of 538,824 shares, compared to its average volume of 1,729,501. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.48 and a current ratio of 3.48. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 3.97, a P/E/G ratio of 0.28 and a beta of 0.45. Qfin Holdings Inc. - Sponsored ADR has a one year low of $24.60 and a one year high of $48.94. The stock has a 50 day simple moving average of $35.18 and a 200 day simple moving average of $39.57.

Qfin (NASDAQ:QFIN - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.01). The firm had revenue of $728.00 million during the quarter, compared to the consensus estimate of $4.68 billion. Qfin had a return on equity of 30.74% and a net margin of 38.66%. Sell-side analysts predict that Qfin Holdings Inc. - Sponsored ADR will post 5.71 earnings per share for the current year.

Qfin Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.76 per share. This is a boost from Qfin's previous semi-annual dividend of $0.70. This represents a dividend yield of 541.0%. The ex-dividend date of this dividend is Monday, September 8th. Qfin's payout ratio is presently 21.19%.

Wall Street Analyst Weigh In

QFIN has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Qfin from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. JPMorgan Chase & Co. initiated coverage on shares of Qfin in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 price target for the company. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, Qfin has a consensus rating of "Buy" and a consensus price target of $51.73.

About Qfin

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.